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Coinbase – which happens to be the largest US crypto platform – registered nearly $76 billion in spot trading volume, according to a new Bloomberg report.
Trading volume serves as a vital metric for exchanges, and for Coinbase, the largest share of its revenue stems from trading fees. This decline is part of a broader trend observed over a year in the digital asset industry, driven by a series of scandals, bankruptcies, and regulatory interventions.Despite the setbacks, Coinbase managed to expand its market presence in the previous quarter, notably as its rival Binance faced heightened regulatory scrutiny in the country as well.
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